Sears Eying Acquisitions

Tue, 2007-05-08 21:42

Sears Holdings Corp. Chairman Edward Lampert told shareholders Friday the retail giant is eyeing numerous possibilities for acquisitions or investments two years after the parent of Sears and Kmart stores was created.

But the billionaire investor and hedge-fund manager gave no indication at the company's annual meeting that a move is imminent. Wall Street has been eagerly waiting for Sears Holdings to use its large stash of cash.

Responding to a shareholder question about his plans for the company's more than $2 billion in cash, Lampert said there are "a variety of options to deploy that."

"What will shake out, especially this year, really is going to depend on what the opportunity set is," he said.